Oceanloop secures up to €38.5M to scale land-based aquaculture

Munich-based aquaculture startup Oceanloop has secured up to €38.5 million to scale its land-based recirculating aquaculture systems (RAS) and expand the farming of giant grouper in Europe. The funding includes equity commitments from Hatch Blue’s Blue Revolution Fund and Stolt Ventures, alongside a €32 million venture debt facility from the European Investment Bank (EIB) backed by the EU’s InvestEU program.

Oceanloop is the first company in Europe to commercially farm the giant grouper species. Following the launch of sales from its existing facility near Kiel via sister company Honest Catch, the company plans to begin construction of a new 250-metric-ton capacity facility in Kiel by the end of 2026.

Looking further ahead, Oceanloop intends to start construction of a larger commercial facility on Gran Canaria in 2029, which is projected to have an annual production capacity of approximately 2,000 metric tons. The company continues to develop its software-controlled RAS platform for various species, including shrimp.